A Fidelity crypto fund shows the $2.5 trillion money manager is surprisingly one of the most active Wall Street firms in bitcoin


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Fidelity Investments launched an internal crypto fund last fall to invest the firm’s balance sheet in digital assets, according to people familiar with the matter. 
The fund, which is very small and exploratory, is waiting for a new fund manager after two employees involved in the project left. 
Fidelity is also hiring employees to work on services relating to cryptocurrency exchanges and crypto custody. 

An internal crypto fund at Fidelity Investments is looking for a new fund manager after key members of the team left the firm, according to people familiar with the matter.

The fund, which is small and exploratory, is inactive for now. It was launched in fall 2017 and used capital from the firm’s balance sheet to invest in crypto-related assets, the people said. It actively invested in digital currencies and crypto companies before two senior members of the project exited Fidelity.See the rest of the story at Business Insider

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Original Article : HERE ; This post was curated & posted using : RealSpecific


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